Abbington Investment Group Invests $1.97 Million in Nutrien Ltd. $NTR

Abbington Investment Group acquired a new stake in Nutrien Ltd. (NYSE:NTR) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 33,500 shares of the company’s stock, valued at approximately $1,967,000. Nutrien comprises approximately 1.7% of Abbington Investment Group’s investment portfolio, making the stock its 22nd biggest holding.

Several other large investors also recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Nutrien by 65.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,224 shares of the company’s stock worth $1,253,000 after buying an additional 9,950 shares in the last quarter. NewEdge Advisors LLC raised its stake in shares of Nutrien by 6.2% in the first quarter. NewEdge Advisors LLC now owns 6,907 shares of the company’s stock worth $343,000 after acquiring an additional 404 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Nutrien by 1.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 736,996 shares of the company’s stock worth $36,607,000 after acquiring an additional 7,194 shares during the last quarter. Focus Partners Wealth acquired a new position in shares of Nutrien during the first quarter worth approximately $516,000. Finally, Intech Investment Management LLC grew its stake in shares of Nutrien by 284.0% during the first quarter. Intech Investment Management LLC now owns 69,128 shares of the company’s stock valued at $3,430,000 after purchasing an additional 51,126 shares during the last quarter. Institutional investors own 63.10% of the company’s stock.

Nutrien Price Performance

Shares of NTR stock opened at $59.82 on Friday. The company has a quick ratio of 0.89, a current ratio of 1.41 and a debt-to-equity ratio of 0.39. Nutrien Ltd. has a 12-month low of $45.78 and a 12-month high of $65.08. The firm has a fifty day moving average of $59.50 and a 200-day moving average of $58.72. The firm has a market capitalization of $28.87 billion, a price-to-earnings ratio of 16.12 and a beta of 0.72.

Nutrien (NYSE:NTR) last posted its earnings results on Wednesday, November 5th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.06. Nutrien had a return on equity of 7.54% and a net margin of 6.79%.The firm had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.59 billion. During the same period in the previous year, the company posted $0.39 earnings per share. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. On average, equities research analysts forecast that Nutrien Ltd. will post 3.72 earnings per share for the current year.

Nutrien Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Wednesday, December 31st will be paid a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Wednesday, December 31st. Nutrien’s dividend payout ratio is presently 58.76%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. UBS Group dropped their price objective on shares of Nutrien from $63.00 to $58.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. Oppenheimer restated an “outperform” rating on shares of Nutrien in a research report on Wednesday, October 22nd. Mizuho lifted their price objective on Nutrien from $61.00 to $65.00 and gave the stock a “neutral” rating in a research report on Thursday, December 18th. Zacks Research lowered shares of Nutrien from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 16th. Finally, Wells Fargo & Company began coverage on shares of Nutrien in a research note on Tuesday, November 11th. They issued an “equal weight” rating and a $64.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $63.17.

Nutrien Company Profile

Nutrien Ltd. is a global fertilizer and agricultural-services company headquartered in Saskatoon, Saskatchewan, Canada. The company is publicly traded and operates across the farm input value chain, combining upstream fertilizer production with a broad retail and services platform aimed at supporting crop production worldwide. Nutrien’s business model integrates the manufacture and distribution of crop nutrients with on-the-ground agronomic support for growers and agricultural businesses.

Nutrien produces and supplies the three primary fertilizer nutrients—potash, nitrogen and phosphate—through its wholesale operations, and markets a wide range of crop inputs including seeds and crop protection products.